TD announces $3 Million gift to support Prosper Canada's Centre for Financial Literacy

12 November 2014

Ottawa, November 12, 2014 – TD Bank Group announced a new commitment of $3 million to support the Prosper Canada Centre for Financial Literacy. Provided over the next three years, the gift will help the Centre to reach its goal of building the financial capability of 1 million vulnerable Canadians by 2020.

“As a co-founder and supporter of Prosper Canada's Centre for Financial Literacy, TD is delighted to renew its commitment and invest in the Centre’s ongoing efforts to equip lower income Canadians with the knowledge and skills they need to build a brighter financial future,” said Linda MacKay, Senior Vice President, Retail Savings and Investing, TD Bank Group. “We are excited to team up, once again, with an organization that has helped to empower so many Canadians to make good financial decisions.”

TD's initial investment in the Centre for Financial Literacy and TD Financial Literacy Grant Fund from 2009 to 2014 played a critical role in building what is now a vibrant and growing national field of community-based financial education. The new $3 million gift to the Centre will help embed financial education into other services for vulnerable groups, support the piloting and roll out of free financial coaching services nationally, and increase financial literacy research and knowledge exchange. A number of activities will also mobilize TD volunteers seeking opportunities to give back in their communities.

“We are thrilled with TD’s generous ongoing support for Prosper Canada's Centre for Financial Literacy,” said Elizabeth Mulholland, CEO of Prosper Canada. “TD’s investment is foundational to our efforts to empower low income and vulnerable Canadians to participate fully in our financial system and to help them overcome barriers to achieving financial wellbeing.”

“Ensuring all Canadians have access to the appropriate resources, tools and information they need to make sound financial decisions benefits individuals and the economy as a whole,” said Kevin Sorenson, Minister of State (Finance). “I commend TD and Prosper Canada for their shared commitment to enhancing Financial Literacy for Canadians.”

“Collaboration is at the heart of my mandate. This announcement today in support of the Prosper Canada Centre for Financial Literacy is an excellent example of collaboration between the private and non-profit sector that will benefit all Canadians,” said Jane Rooney, Canada's Financial Literacy Leader. “It embodies what we are striving to achieve with our National Strategy for Financial Literacy through collaboration.”

Prosper Canada
Prosper Canada, is a national charity dedicated to expanding economic opportunity for Canadians living in poverty through program and policy innovation. As Canada's leading champion of financial empowerment, we work with government, business and community partners to develop and promote financial policies, programs and resources that transform lives and foster the prosperity of all Canadians. To learn more about Prosper Canada and the Prosper Canada Centre for Financial Literacy, please visit www.prospercanada.org.

TD Community Giving
TD Bank Group invests in communities in order to effect positive change in the places where it operates and where its clients and employees live and work. In 2013, TD donated more than $74.7 million to community organizations in Canada, the United States and the United Kingdom. In Canada, TD focuses on education and financial literacy, creating opportunities for young people and the environment. For further information, please visit www.td.com/corporate-responsibility.